XRP Corrects in Ranges – July 26
The Ripple XRP market corrects valuations in ranges of $0.40 and $0.30 value lines as it has witnessed a high of $0.3811 and a low point of #0.3043 in the last thirty days until the present. The price percentage rate stands at 2.05 negatives.
XRP Price Statistics:
XRP price now – $$0.3295
XRP market cap – $15.9 billion
XRP circulating supply – 48.3 billion
XRP total supply – 100 billion
Coinmarketcap ranking – #7
XRP Corrects in Ranges
Resistance levels: $0.40, $0.50, $0.60
Support levels: $0.30, $0.25, $0.20
XRP/USD – Daily Chart
The Ripple XRP/USD daily chart showcases the crypto market corrects in ranges of $0.40 and $0.30 over several days. The upper horizontal line drew to mark the higher spot, and the lower horizontal to locate the smaller range spot. The 14-day SMA indicator is within the range-bound zones below the 50-day SMA indicator, which is at $0.4347. The Stochastic Oscillators have crossed southbound from the overbought region, trying to reach the range at 20.
Can there be more downs should the price breach southward at $0.30 in the Ripple XRP/USD trade?
One of two things in the short, medium, or long-term run that will happen while the market tends to trade in range-bound zones is a breakout or a breakdown as the Ripple XRP/USD market corrects in ranges now. Forces to the downside appear to approach an exhaustion stage where the trading pattern may have to change to find support. The lower range point seems to be tough against the price going down more.
On the downside of the technical analysis, there seems to be the Ripple XRP/USD market bears that are gradually and systemically pushing the crypto economy’s valuation to a lower-trading zone to test the $0.30 support level. If selling pressures have to get heightened against the value line, lower points between $0.25 and $0.20 will be the focus. However, early intervention of a rebound to follow such a presumed afterward will gallantly push the into an upward-trending motion that will sustainably uphold for some time.
XRP/BTC Price Analysis
Ripple XRP is now pushing around the conjoined trend lines of the SMAs against Bitcoin. That portends the currency pair market trades, aligning with a correction in ranges. The 14-day SMA indicator and the 50-day SMA indicator have formed tightly together in the orange zones. The Stochastic Oscillators are around the 20 range, trying to penetrate the oversold region. That shows the base crypto may be put under pressure soon by its flagship counter-trading crypto.
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